Government to double family tax allowance

Banking

Parents raising two children will see their family tax allowance double in 2015, National Economy Minister Mihály Varga said in an interview to Hungarian daily Magyar Nemzet last Saturday.

Family tax rebates were introduced by the Fidesz right-wing government after it won the 2010 parliamentary elections. About 300,000 parents will benefit from the government’s latest plans. The total revenue of families with two children will increase by HUF 55 to 61 bln a year, the minister added. The measure applies to families who pay taxes.

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